Browsing by Subject "Monetary policies"

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    The choice of monetary policy tool(s) and relative price variability: evidence from Turkey
    (A N S I Network, 2009) Berument, Hakan; Sahin, A.; Saracoglu, B.
    The aim of this study is to assess any regularity relative price dispersion for the effect of monetary policy tool selection. Central banks use tools such as interbank rate and exchange rate when pursuing their (monetary) policies. The selected tools affect economic variables differently. By using Turkish monthly data for the 1988:2-2008:2 period, this study suggests that pure policies (such as interbank rate only or exchange rate only) increase relative price variability more than mixed policies, where the monetary authorities use the above tools simultaneously. © 2009 Asian Network for Scientific Information.
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    Effects of monetary policy on the long memory in interest rates: Evidence from an emerging market
    (Elsevier, 2013) Sensoy, A.
    We study the presence of long memory in a variety of interest rates in Turkey by time-varying generalized Hurst exponent. We reveal that adopting inflation targeting cause a sudden and considerable decrease in the long memory in interest rates. The improvement lasts till the collapse of Lehman Brothers in 2008 which is followed with an increased persistence in interest rates. Moreover, degree of long memory increases with maturity which is in contrast to economic theory.